According to rumors, Liverpool are exploring becoming the first Premier League team to have a crypto business as a key jersey sponsor
According to The Athletic’s David Ornstein, Liverpool might become the first Premier League team to have a cryptocurrency corporation as a key jersey sponsor. The Merseysiders are in negotiations with cryptocurrency businesses to extend their present agreement with Standard Chartered until 2023.
Liverpool are presently in negotiations with cryptocurrency corporations as well as possible extension partners. English football club is in negotiations with “a crypto exchange business and a blockchain platform (a decentralised computer system that supports cryptocurrencies).”
They would not be the first Premier League team to ink a contract with a crypto corporation, but they would be the first to do so as their primary jersey sponsor, which is sure to be a contentious decision. The Merseysiders are ‘desperate to compete financially with other elite teams and maximize their commercial arrangements,’ with a prospective pact bringing in more than £70 million over 2 seasons.
For sports teams and leagues, the arrival of cryptocurrency has managed to bring with it a flood of capital and companies prepared to invest on sponsorship and marketing at a time while sports were feeling the effects from the financial impact of the Covid pandemic, the difficulties of some typical big spenders in the marketplace such as airlines, and, in football, the totally different perspective by forthcoming regulation over betting sponsorships. It is, however, a contentious issue. It is young, it is volatile, and while regulation is in the works, it has been unable to keep up with the growth. However, it is expected to be there for a long time and has aided in the growth of commercial earnings for teams going through a difficult period.
Manchester City presently leads the list in terms of the value of their jersey sponsorship agreement, with Etihad Airways paying roughly £67 million for the honor, while Manchester United’s deal with TeamViewer was completed for £47 million each season. Liverpool’s contract, worth £40 million per season, is on par with that of Arsenal and Tottenham Hotspur, and with the club needing to deliver greater commercial success in order to continue reinvesting in the squad, achieving at least at the level of what City does will be high on the agenda for the Anfield hierarchy.
